Forecast sheet excel mac 2020

Forecast sheet excel mac 2020 DEFAULT
Hi RoMo_20, hope you're doing well. I’m Ian, an Independent Advisor and Microsoft user like you.
I'm sorry to hear about this issue.

If you are pertaining to Forecast Sheet, unfortunately this is still not available on Mac version. Based on the article below, it only support Windows version.
https://support.microsoft.com/en-us/office/crea...

I would suggest to submit feedback to the development team in the link below so that they can add this in the future releases.
https://excel.uservoice.com/forums/304933-excel...

This is a user-to-user support forum and I am a fellow user.
I hope this helps, but please let me know if you need anything else.

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Sours: https://answers.microsoft.com/en-us/msoffice/forum/all/excel-mac-forecast-function/38c636fa-9434-4137-ad9d-972e2e02c625

Forecasting in Excel 2016 for Windows and Mac

Excel 2016 has a handful of new functions to help you forecast numbers – typically sales data – more accurately than before. The older FORECAST function still exists for compatibility with worksheets created in older versions, but if you’re creating a new sheet, you’ll want to use one of these…

FORECAST.LINEAR: creates a straight-line forecast

FORECAST.ETS: estimates a trend using seasonality

FORECAST.ETS.SEASONALITY: shows the length of a seasonal cycle

FORECAST.ETS.CONFINT: the confidence interval of the estimate

FORECAST.ETS.STAT: calculates 8 statistical algorithms

These work the same in both the Windows and Mac versions of Excel 2016. Once you have the results, you can create a chart in the Windows version that shows the forecasts and expected margins of error. The Forecast Sheet chart isn’t available on the Mac edition of 2016, but you can still create a regular chart.

If you'd like to follow along, download this zip file and extract the workbook from it:

http://www.flisser.com/download/forecast-functions.zip

Straight Line Forecasting

The workbook has two tabs: straight line and seasonality. Start with the straight line tab. This type of data doesn’t have a cycle, which means the sales don’t depend on the time of year.

The sheet has two columns of monthly data: dates and units sold. You need dates and their corresponding numbers for all the forecasting functions.

The last date for which we have data is May 2017. We want to know what the units sold will be for June through December.

The syntax of a straight line forecast is:

=FORECAST.LINEAR(date to forecast to, range of current sales, range of current dates)

On this sheet, the range of current sales is A5:A33 and the current dates are in B5:B33. To make the calculations easier, I gave these range names of dates_sheet_1 and units_sheet_1. You can see all the range names for this workbook by clicking the Name Box in the upper left corner of the sheet. (If you want, click one of the names to select its range.)

Click in B34 and calculate the first forecasted units, which is for June 2017. Enter the formula:

=FORECAST.LINEAR(A34, units_sheet_1, dates_sheet_1)

Hint: you don’t have to type the range names manually. When you start typing a name, Excel displays a list of hints. Select one:

Or press the F3 key on the keyboard (Fn + F3 on the Mac) to display the Paste Name box: a list of all range names on the sheet.

Double-click the one you want. (Do it twice when writing this formula: once to insert the units name and once to insert the dates name.)

The function’s result should be 773.  Use AutoFill to copy the formula down to the bottom:

Seasonal Forecasting

How do you forecast data if they are effected by the date? Typical examples are consumer electronics, where sales spike in the 4th quarter of the year, and vacation rentals, where sales spike in the summer.

Notice the Seasonality sheet has 3 full years of data, and in each year, the units sold are significantly higher in the 4th quarters. The seasonality function usually needs 3 years of data for good results.

The syntax for the Seasonality forecasting function has the same 3 arguments as the straight-line function, and 3 optional arguments:

=FORECAST.ETS(date to forecast to, range of current sales, range of current dates, [number of seasonal data points], [data completion], [aggregation])

ETS stands for Exponential Triple Smooth. Excel estimates the numbers based on trends and seasonality, giving the most weight to recent data, declining exponentially.

Optional arguments

Number of seasonal date points

If number of date points = 0, Excel assumes no seasonality

If number of date points = blank, Excel guesses the number of seasonal date points

Data completion

If you don't have a sales value for a period, choose 0 or 1

1: default. Excel will fill in the blank by averaging the previous and next values

0: missing values treated as zeros

Aggregation

If you have multiple values for the same period, what should Excel do? Options:

1=Average (default)

2=Count

3=Counta

4=Max

5=Median

6=Min

7=Sum

As in the previous sheet, I created range names for you to make this easier.

In B41, enter the formula, using the above techniques for inserting the range names. To keep it simple, you can leave out the optional arguments.

=FORECAST.ETS(A41, units_sheet_2, dates_sheet_2)

The result should be 926. Use AutoFill to copy the formula down to the bottom:

What’s the Seasonal Cycle?

To calculate how many months Excel sees in a cycle, use FORECAST.ETS.SEASONALITY.

The syntax is similar to FORECAST.ETS but with fewer arguments:

=FORECAST.ETS.SEASONALITY(range of current sales, range of current dates, [data completion], [aggregation])

In B48, enter the formula:

=FORECAST.ETS.SEASONALITY(units_sheet_2, dates_sheet_2)

The result is 12, meaning the formula sees 12 months in a cycle.

Confidence

How confident are we in the results? A Confidence Interval will tell us how much margin of error above and below the forecast we can expect.

The Confidence Interval function has similar syntax with 3 required arguments and 4 optional ones. The only new one you haven’t seen yet is the confidence level percent.

The syntax is:

=FORECAST.ETS.CONFINT(date to forecast to, range of current sales, range of current dates, [confidence level], [number of seasonal data points], [data completion], [aggregation])

The default confidence level is 95% (roughly 4 standard deviations).

Enter the formula in C41, accepting the default confidence level:

=FORECAST.ETS.CONFINT(A41,units_sheet_2,dates_sheet_2)

The result should be roughly 226. On the Home tab of the ribbon, use the Decrease Decimal button to remove the decimals.

Let’s now add and subtract these numbers from the forecast to get a table of upper and lower results to expect.

In D41, enter this formula to add the confidence to the forecast and get the upper bound:

=B41+C41

In E41, enter this formula to subtract the confidence from the forecast and get the lower bound:

=B41-C41

Use AutoFill to copy both formulas down to the bottom:

Statistics

To see statistical relationships between the unit and date range, use FORECAST.ETS.STAT. It can return one of these 8 statistics, using the following code numbers in the function:

  1. Alpha parameter of the ETS algorithm
  2. Beta parameter of the ETS algorithm
  3. Gamma parameter of the ETS algorithm
  4. MASE metric
  5. SMAPE metric
  6. MAE metric
  7. RMSE metric
  8. Step size

The syntax is similar to the previous functions:

=FORECAST.ETS.STAT(range of current sales, range of current dates, statistic type, [seasonality], [data completion], [aggregation])

In B51, use code 2 to find the beta:

=FORECAST.ETS.STAT(units_sheet_2, dates_sheet_2, 2)

The result should be 0.1%.

Charting Forecasts

The Windows version of Excel 2016 has a button that places an interactive forecast chart on your sheet. On the ribbon, click the Data tab, then click the Forecast Sheet button.

On the bottom of the dialog, click Options to expand the dialog. Here, you have all the options the functions give you. Make your choices, then click the Create button to insert the chart.

Although the Mac version of Excel 2016 doesn’t have this feature, you can still go to the Insert tab on the ribbon and insert a line chart:

Sours: https://www.experts-exchange.com/articles/30713/Forecasting-in-Excel-2016-for-Windows-and-Mac.html
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Sours: https://www.simonsezit.com/article/predict-future-values-using-forecast-sheet-in-excel/
Operations Management using Excel: Seasonality and Trend Forecasting

Forecast Sheets in Excel – Instructions

Forecast Sheets in Excel - Instructions: A picture of a forecast sheet created in Excel.

Forecast Sheets in Excel: Overview

            You can insert forecast sheets in Excel into a workbook to predict future trends from existing time-based data. To create forecast sheets in Excel, you must have a series of date or time entries for the timeline. You must also have corresponding values for those time or date entries. From these existing date or time values, Excel can then project future trends and the associated values for future dates.

            Before you create forecast sheets in Excel, you should ensure your timeline’s values have consistent intervals between its data points. For example, you could have consistent daily, monthly, or yearly values for which to create a forecast. The timeline can have up to thirty percent of its data points missing or have duplicate time stamps on different values and still produce an accurate forecast. However, you may want to summarize and organize the data before creating forecast sheets in Excel to produce the most accurate forecast.

            To create the forecast sheet, either select both data series to forecast or click into a cell within one of the data series to forecast. Then click the “Data” tab in the Ribbon. Then click the “Forecast Sheet” button in the “Forecast” button group to open the “Create Forecast Worksheet” dialog box. Choose either the “Create a line chart” or the “Create a column chart” button in the upper-right corner of the dialog box. Doing this then displays the forecast as either a line chart or column chart. Below the chart, use the “Forecast End” drop-downs or spinner box to set the end date/time or ending value and set how far out to project the forecast.

Forecast Sheets in Excel - Instructions: A picture of the “Create Forecast Sheet” dialog box in Excel.

Forecast Sheets in Excel – Instructions: A picture of the “Create Forecast Sheet” dialog box in Excel.

            To set additional, advanced forecast options, click the “Options” arrow or link at the bottom of the dialog box to expand that section, if needed. You can select a different forecast start date by using the “Forecast Start” drop-downs or spinner box to set the start date/time or starting value for the forecast. If you pick a date before the end of the historical data, only data prior to the start date is used in the forecast. For seasonal data, Excel recommends starting the forecast before the last historical point.

            You can check or uncheck the “Confidence Interval” checkbox to show or hide the confidence interval in the forecast. If shown, the default confidence level of “95%” can be changed by using the adjacent spinner box. Alternatively, you can also type a new percentage to use into the box.

            To choose how to determine seasonal intervals, select a “Seasonality” option button. The default option is “Detect Automatically.” To manually set seasonality intervals, select the “Set Manually” option button. Then enter the seasonal value into the adjacent field. For example, in a yearly sales cycle where each data point plotted represents one month, “12” is the seasonality value. When manually setting seasonality, avoid using a value less than “2” to prevent the forecast from reverting to a linear trend.

            In the “Timeline Range” field, the range of timeline values appears. These are the time values that correspond to the data values in the “Values Range” field. The “Values Range” field contains the data values for the timeline values.

Forecast Sheets in Excel - Instructions: A picture of a forecast sheet created in Excel.

Forecast Sheets in Excel – Instructions: A picture of a forecast sheet created in Excel.

            You can use the “Fill Missing Points Using” drop-down to select “Zeros” to fill-in missing data points with zeros. The default value of “Interpolation” uses the weighted average of neighboring points to fill-in the value of missing points.

            If your data series contains multiple values with the same date/time stamp, Excel averages the values with the same date/time stamp. To use a different function, like “MEDIAN,” select the function to use from the “Aggregate Duplicates Using” drop-down.

            To include forecast statistics on a new sheet, then check the “Include forecast statistics” checkbox. This includes a table of statistics generated by the FORECAST.ETS.STAT function. It includes measures, like the smoothing coefficients and error metrics.

            To create the forecast sheet, then click the “Create” button in the lower-right corner to add the new forecast worksheet to your workbook. This sheet contains the selected data series, the forecasted values, and the upper and lower confidence bounds, if selected, in a table on the sheet. These values appear within a chart on the same sheet. You can then edit the table’s values or formulas to change the values in the forecast chart, if desired.

Forecast Sheets in Excel: Instructions

  1. Before creating forecast sheets in Excel, you must have a series of date or time entries for the timeline.
  2. You must also have corresponding values for those time or date entries.
  3. To create a forecast sheet, select both data series to forecast.
  4. Alternatively, click into a cell within one of the data series to forecast.
  5. Then click the “Data” tab in the Ribbon.
  6. Then click the “Forecast Sheet” button in the “Forecast” button group to open the “Create Forecast Worksheet” dialog box.
  7. To display the forecast as either a line chart or column chart, then choose either the “Create a line chart” or the “Create a column chart” button in the upper-right corner of the dialog box.
  8. To set the end date/time or ending value and set how far out the forecast should be projected, use the “Forecast End” drop-downs or spinner box below the chart.
  9. If you want to set additional, advanced forecast options, then click the “Options” arrow or link at the bottom of the dialog box to expand that section, if needed.
  10. To select a different forecast start date, then use the “Forecast Start” drop-downs or spinner box to set the start date/time or starting value for the forecast.
  11. To show or hide the confidence interval in the forecast, then check or uncheck the “Confidence Interval” checkbox.
  12. If shown, the default confidence level of “95%” can be changed by using the adjacent spinner box.
  13. Alternatively, you can also type a new percentage to use into the box.
  14. To choose how to determine seasonal intervals, then select an option button under “Seasonality.” The default option is “Detect Automatically.”
  15. To manually set seasonality intervals, select the “Set Manually” option button.
  16. Then enter the seasonal value into the adjacent field.
  17. In the “Timeline Range” field, the range of timeline values appears. These are the time values that correspond to the data values shown in the “Values Range” field.
  18. The “Values Range” field contains the data values for the timeline values.
  19. To fill-in missing data points with zeros, use the “Fill Missing Points Using” drop-down to select “Zeros.”
  20. To fill-in the value of missing points with the weighted average of neighboring points, use the “Fill Missing Points Using” drop-down to select the default value of “Interpolation.”
  21. If you want to use a function other than AVERAGE on values with the same date/time stamp if your data series contains multiple values with the same date/time stamp, then select the function to use from the “Aggregate Duplicates Using” drop-down.
  22. To include forecast statistics on a new sheet, then check the “Include forecast statistics” checkbox.
  23. To create the forecast sheet, click the “Create” button in the lower-right corner of the “Create Forecast Worksheet” dialog box.
  24. The forecast sheet contains the selected data series, the forecasted values, and the upper and lower confidence bounds, if selected, in a table on the sheet. These values appear within a chart on the same sheet.
  25. To change the values shown in the forecast chart, if desired, then edit the table’s values or formulas.

Forecast Sheets in Excel: Video Lesson

            The following video lesson, titled “Forecast Sheets,” shows you how to create forecast sheets in Excel. This video lesson on creating forecast sheets in Excel is from our complete Excel tutorial, titled “Mastering Excel Made Easy v.2019 and 365.”

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Sours: https://www.teachucomp.com/forecast-sheets-in-excel-instructions/

2020 mac forecast excel sheet

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Forecast Sheet in Excel for Quick Data Trends

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